Listing Profile Bid History Loan History

Listing Title


Loan Information
Loan Status: Current Origination Date: 2008-06-16 Payments Made: 6 of 36 Total Payments: $4132.69 / $19000.00

Listing Summary

  

Borrower Info
Requested Amount: $19000.00
Lender Rate: 18.00%
Automatic Funding: No
Percent Funded: 100%
Monthly Payment: $686.90
 
Borrower: familyforus
Location: OH
Group: (NoGroup)
Group Fee: 0.00%

Credit Profile
Credit Grade: B Homeowner: Yes Account Verified: Yes Debt To Income: 46%

Extended Credit Data
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Listing Description
Purpose of loan: 
My wife and I have requested this loan in order to pay off our high interest credit card debt.  We are absolutely committed to this goal and are very happy a friend (and prosper lender) led us to this site.  My wife and I are both 28 years old and we decided very early in our marriage that we wanted to start a family right away (we have two beautiful kids).  Since we were so young we used our credit cards to help with the extra bills that come when you start a family and finishing your education at the same time.  Now that our family is here and we have both completed our masters programs, our careers are established it is time to sharpen the pencils and take care of our finances!  This starts with eliminating our high interest credit card debt from Bank of America for $19,000. 

My financial situation:
We are good candidates for this loan for several reasons:

1) My wife and I both have good secure jobs as educators.  We have worked in the same school district for six years now.  If you do not know much about job security in public education, once you are in a district for this amount of time the chances of you losing your job to layoffs or any other resaon are quite slim.  Bottom line: Our future salaries which will be used to in part pay off this loan are pretty much guaranteed.

2) We are taking our fiscal responsibilities very seriously.  We did what we had to do early on to make ends meet and provide for our kids.  Now that we both make significantly more money, have secure careers and have removed a lot of expenses it is time to rid ourselves of this debt.  It is a top priority and we are committed to paying this loan back on time.  We have consulted with a financial planner and have a plan that will get us there.  This loan is a big part of our plan and IT WILL BE PAID BACK ON TIME.  As a bonus to you lenders, you will be glad to know that we plan to pay this loan back over the full three years so your return will reach its full potential! 

3) We have a friend endorsement who is a lender on prosper..see below!! 

4) NO DELIQUENT ACCOUNTS, NO BANKRUPTCY. You can see we have revolving debt  but not one deliquent payment!  We pay our bills on time!!!    
 
5) My 42% debt to income ratio is actually about half of this if you add in my wife's income! She makes $48,000.  Remember, the ratio was calculated on my income only.

Monthly net income:
$ 3317.14 (mine) ????  $2965.78 (wifes)  Both incomes are used to pay the bills.
Monthly expenses:
Housing: $ 1298.00  
Insurance: $ 197.00  
Car expenses: $ 742.00  
Utilities: $ 142.00  
Phone, cable, internet: $ 370.00  
Food, entertainment: $ 550.00  
Clothing, household expenses $ 100.00  
Credit cards and other loans: $323 (not including the $19,000 BOA CC)
 Other expenses: $ 945.00 (babysitting, gas, & security system)  Babysitting is not paid in the summer!

Thank you for considering our listing.  We WILL pay this loan back in full and on-time and have the necessary means to do so.  If you decide to bid on us we promise you will not be sorry.  Feel free to ask us any questions if you need further information.